Property Management News

Tip #185:  Running the Numbers Tread carefully when rejecting a rental application from a family with children on the basis of occupancy limits. While housing watchdog HUD has issued statements that suggest a standard 2-person per bedroom limit, recent fair housing cases indicate that occupancy limits are by no means standard — like the famous movie quip — “they’re more like guidelines anyway.” Likewise, local occupancy standards alone may not justify a landlord rejecting a family with children.   When deciding whether to charge a landlord under the Fair Housing Act, HUD will consider many other factors, including: The layout of the rental... Read more

The right rent attracts the right tenants. How are your rental rates compared to neighboring properties? Everyone wants to increase profits as much as possible, but charge too much, and tenant go elsewhere. Sometimes this becomes apparent in the days after placing an ad when you get no calls. On the other hand, too many calls could be a sign that your rate is too competitive — and no one can say no to such low rent. Here are a couple of tips for calculating the ideal rent rate: First, find your bottom line.  After looking at all your fixed expenses — mortgage, insurance, taxes, add in a fair estimate of maintenance costs.  Go over those figures with a financial advisor to... Read more